Barclaycard question

starnac

hi i was wondering if anyone could help me? DH has a barclaycard with around £5k on it. he negotiated a sort of DMP with them at the beginning of the year as he was out of work. we've been saving some money in order to pay it off as we want to buy a house next year and want it paid off before we apply for a mortgage.

now i've read on the DFW boards that c/c companies sometimes accept f & f (is that right?) it's a payment that isn't the full amount but they will cancel the card and the debt owing on it.

i'm not trying to get out of paying it cos we did spend the money in the first place but obviously the less we pay off it the more we've got to save for a deposit.

has anyone had dealings with barclaycard with regards to this and does anyone know what sort of offer they might accept?

i would be very grateful for any advice you could offer

thank you

deadthings

If he has been on a DMP, and then he manages to get an F&F don't you think you might have a hard time getting a mortgage, given that his credit file will be in the toilet? Or do you have some other plan for getting round this?

If you are able to pay it all off, Barclaycard might be pursuaded to not tank his credit file, but if he only part pays it's surely going to be a problem getting a mortgage. Or will it be in your name only?

D.

starnac

thanks for your reply

the mortgage will be in both our names. i have just seen my credit report and it's fine and this is the only problem he's ever had. i suppose i was hoping that although we wouldn't get one of the best mortgage deals around we would still get something

CLAPTON

what does his credit report say?
if its already trashed then so be it but if it's OK it would be unwise to trash it now with a F&F offer.

Kavanne

Even if it's joint, one party with terrible credit can cause a decline.